TSMC reports 2010 sales of $406billion
Taiwan based semiconductor giant TSMC has reported sales of $406bn for the financial year 2010, a year on year increase of 42.4%. The company beat expected forecasts by 1% and put the rise down to increasing demand for chips in new applications such as Smartphones, tablet pcs and web based media viewers.
The company also reported net sales for December 2010 of approximately $33.75bn, a decrease of 5.5% over November 2010 and an increase of 10.8% over December 2009.
Last month, ceo Morris Chang, pictured, announced that the company would be increasing its R&D spend by nearly 39% to $1.63bn in 2011, in a bid to stay ahead of competition from the likes of Globalfoundries and Samsung Electronics. "Development in technology is still our primary focus," he said, maintaining the firm's mission to become a major chip technology and capacity provider to the global chip industry in the years to come.